The size of the global market for beverage processing equipment is anticipated to expand steadily from 2023 to 2033 at a CAGR of 4.9%. It is anticipated that it would increase in value from US$ 7.7 billion in 2023 to US$ 12.8 billion by the end of 2033. The market is anticipated to perform well in the near future owing to increasing awareness regarding processed beverages, and rising demand for ready-to-drink beverages among the population. Filtration systems, equipment type segment is anticipated to grow at the fastest CAGR over the forecast period.
Ready-to-drink beverages have become popular among consumers owing to their busy lifestyles and resulting need to stay hydrated all day. The rising demand for clean, gluten-free, low-calorie and low-carbon foods has led to the rise in demand for non-carbonated in the food industry.
Consumers are becoming health conscious due to which the consumption of low-calorie and nutritious beverages such as fruit juices has increased. In Asia-Pacific and Latin America as well consumers are likely to follow this trend and exhibit high demand for low-calorie drinks in the years to come. This would fuel the demand for non-carbonated drinks. Dynamic beverage manufacturing equipment market.
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It includes in-depth insights into the beverages processing equipment market. Some of these are:
- The estimated value of the market was at US$ 17.5 Bn in 2020. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
- Asia Pacific account for leading share in the demand for beverage processing equipment, whereas North America and Europe, screening lucrative long-term growth over the years.
- Asia Pacific countries are like India, China, ASEAN countries posses’ excellent growth opportunity for the beverage processing equipment owing to increasing flavour inspiration and rising disposable income.
- High capital costs and complex manufacturing processes for beverage processing equipment are the key factors that hinder industry growth.
- Companies are growing the output potential and adding market capture automation to the machines.
COVID-19 Outbreak Crisis will Impact Consumption Pattern
Due to the outbreak of the pandemic coronavirus, sales of alcohol and fresh foods on e-commerce in have surged during the COVID-19 epidemic, with market analysts predicting that the changes in consumer buying habits are here to stay. Customer habits shifted during this time to concentrate on safety and hygiene, while in the aftermath of lockdowns, they switched to e-commerce for alcohol, fresh food and even dairy.
Because COVID-19 is spreading through continents without signs of slowing down, the effects and patterns resulting from changes in consumer behaviour will also be evident in other crisis countries. Total consumption of alcoholic drinks wouldn’t change much during economic downturns, sales of beer and wine would increase and sales of liquors would decrease. Budget demand for mid-priced drinks would increase, while demand for high-end super-premium for ultra-premium alcoholic beverages would decrease. The pattern of delivery will change drastically though.
Who is Winning?
The beverages processing equipment market consists of numerous players. Few of them are GEA, Tetra Laval, Alfa Laval, Krones Group, Bucher Industries, SPX Flow, JBT Corporation, KHS GmbH, Pentair, and Praj Industries.
The growing rivalry among the vendors makes it difficult for the emerging players to compete with the leaders based on quality, technology and pricing in particular. Therefore, the manufacturers bring creative ideas and introduce better technology to achieve a competitive edge over their rivals.
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BEVERAGE PROCESSING EQUIPMENT MARKET TAXONOMY
The global Beverage Processing Equipment market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
Beverage Type
- Carbonated Beverages
- Non-carbonated Beverages
- Alcoholic Beverages
- Dairy Based Beverages
- Processed Water
Equipment Type
- Brewery
- Filtration
- Carbonation
- Sugar Dissolvers
- Blenders & Mixtures
- Heat exchangers
Region
- North America
- Latin America
- Europe
- Asia
- Oceania
- MEA
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KEY RESEARCH FINDINGS
- Beverages processing equipment help in turning ingredients such as raw fruits or vegetables into drinks
- The increase in consumer spending on fast-moving consumer products, such as soft drinks, beer and nutritious beverages, is aiding expansion of the beverage processing equipment market
- The overall demand for beverage processing equipment in Europe is projected to increase at a moderate pace
- Increasing alcoholic beverage consumption, coupled with growing popularity for craft beer and social acceptance in developed and developing countries are the key factors expected to drive the global market for beverage processing equipment
- The North America market is estimated exhibit higher sales and is projected to dominate the global beverage manufacturing equipment market
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